When Lisa Marie turned 25, she was given full access to her trust and was the sole heir to her father's estate. She then created a new trust with her mother and the National Bank of Commerce in Memphis. They created Elvis Presley Enterprises, Inc., according to Inside Edition.
In 2005, Lisa Marie sold 85% of her stake in the company, while retaining ownership of Graceland — the museum and the actual property.
In 2016, Lisa Marie removed her mother and her former business manager, Barry Siegel, as co-trustees, according to the Los Angeles Times. She replaced them with her daughter Riley and her late son, Benjamin.
In February 2023, Priscilla — who did not know about the changes until after her daughter's death, Insider's Eve Crosbie reported — filed a petition contesting the validity of the will.
Multiple sources reportedly told People that Riley and Priscilla are "barely speaking," with one source saying, "They do not see eye to eye."
A source close to Riley told ET that she's "deeply upset at how things are unfolding" and "hopes to still be a huge part of Harper and Finley's lives," as their father has now reportedly sided with Priscilla.
Insider has reached out to representatives for Riley Keough and Priscilla Presley.